Scienza e Tecnologia
Microsphere Market in the Composites Industry, Impacted by COVID-19, to Reach US$ 557.6 Million in 2026, Says Stratview Research
Microspheres are small spherical particles, generally ranging from 12 to 300 µm in diameter. In the global composites industry, microspheres are gradually gaining traction as lightweight fillers as they provide both product enhancement and process improvements. Integration of microspheres in composite parts delivers low density, improved dimensional stability, increased impact strength, smoother surface finish, greater thermal insulation, easier machinability, faster cycle times, and cost savings.
The outbreak of Covid-19 has devastated the growth trajectory of all the major end-use industries. Composite materials are proving to be another victim of it; however, the impact is relatively lower than other traditional materials. In Q1 2020, the Composites Index fell sharply to an all-time low of 38.4 as new orders, production, employment, and exports recorded historic low readings. As the production and demand dried out in all the major markets due to pandemic, the domino effect has also been witnessed in the demand for raw materials such as fiber, resin, fillers, and additives. Microsphere, a category of high-performance lightweight fillers, is no exception and is witnessing a huge plunge in demand during the same period. Furthermore, supply chain disruption, labor shortage, and sagging business confidence are estimated to crush the demand for microspheres in the composites industry to the 2015-market level in 2020.
Despite the short-term demand fiasco, the long-term outlook for microspheres in the composites industry is still promising. . Furthermore, an expected increase in the penetration of composite materials in the transportation and building & construction industries to act as a catalyst towards the market growth.
https://www.stratviewresearch.com/toc/1055/microsphere-market-in-composites-industry.html
Based on the type, . Glass microspheres are available as commercial products and in large quantities with a relatively low price compared to other microspheres. Glass microsphere features low density and low thermal conductivity; hence, are increasingly preferred as fillers in composite part fabrication for the transportation and building & construction industries. Glass bubbles play a vital role in reducing the weight and cost of composite parts without compromising other properties required for different applications.
Based on the end-use industry type, the market is segmented into transportation, electricals & electronics, building & construction, consumer goods, and others. . Automakers around the globe are continuously making efforts to reduce the weight of the vehicle to achieve better fuel efficiency. Lower carbon emissions have been the top priority due to rising pollution concerns coupled with stringent regulations, such as CAFÉ 2025. Increasing demand for lightweight vehicles is likely to push the demand for composite materials with greater use of lightweight fillers, especially microspheres.
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In terms of regions, all the markets are expected to mark a colossal decline in 2020 in the wake of rapid spread of the pandemic. However, . The automotive industry plays a crucial role in the European economy, alone contributing ~7% of the region's GDP. Stringent regulation related to carbon emission and high investment towards R&D has led to greater penetration of composite materials in European vehicles than that of other regional markets with increased penetration of microspheres as fillers. Furthermore, rising penetration of composites in a wide array of industries is likely to reinforce the demand for microspheres in the European market.
Asia-Pacific is expected to heal up with the fastest pace from 2021 onwards. China , India , Japan , and South Korea are estimated to remain the major markets for microspheres in the region, owing to their dominance in the region's transportation, building & construction, and consumer goods industries. Furthermore, significant economic development in the region along with a huge consumer base, rising disposable income, and changing lifestyle are likely to act as a catalyst towards the region's market growth.
The supply chain of this market comprises raw material suppliers, microsphere manufacturers, compounders, part fabricators, tier players, OEMs, and end users. The market is marked by the presence of more than 50 microsphere manufacturers, equitably present across regions.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the microsphere market in the composites industry and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
Stratview Research has several high value market reports in the advanced materials industry. Please refer to the following link to browse through our reports:
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Fillers Market in the Composites Industry by Filler Type (Calcium Carbonate, ATH, Talc, Sand, Clay, Microsphere, and Others), by Process Type (Injection Molding, Compression Molding, Hand Lay-Up, Spray-Up, Filament Winding, Pultrusion, and Others), by End-Use Industry Type (Transportation, Electricals & Electronics, Building & Construction, Pipes & Tanks, Consumer Goods, Marine, and Others), and by Region ( North America , Europe , Asia-Pacific , and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
Microspheres Market
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